Lennar was the high bidder yesterday on a 140-acre parcel of Arizona State Trust Land surrounded on three sides by Sonoran Foothills. The home builder paid $22.6 million for the property. The parcel abuts Dove Valley Road to the north and Paloma Parkway to the east. Sonoran Foothills School sits just south of the parcel.
Lennar has not announced plans for the parcel, and it’s not known yet if any possible development would become part of Sonoran Foothills. Were it to be approved for construction at a residential density typical to the area, it might hold 450 or more homes.
State Trust Land, by law, must be “managed for the sole purpose of generating revenues” for its beneficiaries, primarily state education. This translates to the state being required to sell acreage over time, often for development, and direct the proceeds to schools.
This Lexington model has high-end materials throughout. The French Country kitchen has granite counters plus stone backsplash and white cabinets.
2 BEDS | 2 BATHS | 2-CAR GARAGE | 1,344 SQFT | $254,000
41503 Chase Oaks Way, Anthem Country Club
Call 623-297-2557 or CLICK TO LEARN MORE